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Patrick White wrote:
>
> However, the true edge IMHO isn't execution, it is not having to
> trade. If this assertion is true, then monthly expenses like data
> feed, internet connection, office rental, and variable expenses like
> commissions play a significant role in who succeeds and who does not.
> This is true because someone who has zero outlay each month and who
> has a big warchest to work from has the advantage of being able to
> learn to trade at his own pace, while a small account with large
> monthly fees will be in a hurry to get in there and make some money,
> generally with the opposite results.
Patrick:
I absolutely agree with you. Most traders have a very
difficult time getting up, looking at the markets and
saying, "Hmmm...this doesn't look like a market that suits
my techniques or risk tolerance." Instead, most all traders
look at a market and try to adapt to ANY type of conditions
and far too often, they find themselves hip-deep in a market
that is controlling them.
For those of us that don't have to trade all of the time
[the traders here that are independent], selectivity can be
their best money management tool.
I'll see your two cents and make it an even nickel.
Best,
Tim Morge
Blackthorne Capital, Inc.
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